Trading ideas: Chin Hin, Mudajaya, Meta Bright, MN Holdings, Widad, Sunsuria, T7, Perak Transit, NEXG, WTEC

KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.

Chin Hin Group Property Bhd said it has joined forces with Fiamma Holdings Bhd to develop a mixed-use property project at the Kuala Lumpur City Centre area, with a projected gross development value of RM1.0bn.

Mudajaya Group Bhd, which had filed a winding-up petition against THB Power Sdn Bhd, said the independent power producer has initiated a lawsuit disputing the payment amount stated in the petition.

Sarawak Premier Tan Sri Abang Johari Tun Openg has described the report that the state wanted to acquire a stake in AMMB Holdings Bhd to merge with Affin Bank Bhd as mere speculation.

Meta Bright Group Bhd said it has secured a contract to install and operate solar PV systems at two retail outlets of Best Fresh Mart Sdn Bhd under a zero capital expenditure arrangement.

MN Holdings Bhd's unit, Mutu Nusantara Sdn Bhd, has secured a RM180mn contract for the engineering, procurement and construction of a substation for a data centre.

Widad Group Bhd’s wholly-owned subsidiary, Widad Development (Nilai) Sdn Bhd, has signed a conditional sale and purchase agreement with Guper Bonded Warehouse Sdn Bhd to acquire four adjacent parcels of freehold industrial land valued at RM31.3mn.

Sunsuria Bhd signed an agreement with a unit of the Employees Provident Fund for the development rights to affordable housing in Kwasa Damansara and it will pay about RM88.6mn for the 9.5-acre land in the township.

T7 Global Bhd said on Thursday it has secured a five-year contract for an undisclosed value from Petronas Carigali Sdn Bhd.

Datuk Eddie Ong Choo Meng is no longer a substantial shareholder in Perak Transit Bhd after selling a 1.5% stake, or 16.8mn shares, on Wednesday.

NEXG Bhd, formerly known as Datasonic Group Bhd, said on Thursday that Urusharta Jamaah Sdn Bhd, a special purpose vehicle established under the Ministry of Finance, has ceased to be a substantial shareholder of the company.

WTEC Group Bhd’s IPO has been oversubscribed by 1.6 times ahead of its listing on the ACE Market of Bursa Malaysia Securities Bhd on April 29, 2025.